Full page fax print - Indo-American Chamber Of Commerce

Cover Story
that means that the United States and India will engage in
a healthy competition for markets and jobs and industries
of the future. But it also offers the prospect of expanded
commercial ties that strongly benefit both countries.
The United States sees Asia - and especially India - as a
market of the future. We don't simply welcome your rise -
as a nation, and a people - we ardently support it. We
want to invest in it. And I'm here because I believe that in
our interconnected world, increased commerce between
the United States and India can be and will be a win-win
proposition for both nations.
I realize that for some, this truth may not be readily
apparent. I want to be honest. There are many Americans
whose only experience with trade and globalization has
been a shuttered factory or a job that was shipped
overseas. And there still exists a caricature of India as a
land of call centers and back offices that cost American
jobs. That's a real perception. Here in India, I know that
many still see the arrival of American companies and
products as a threat to small shopkeepers and to India's
ancient and proud culture.
Two-Way Relationship
But these old stereotypes, these old concerns ignore
today's reality: In 2010, trade between our countries is
not just a one-way street of American jobs and
companies moving to India. It is a dynamic, two-way
relationship that is creating jobs, growth, and higher
living standards in both our countries. And that is the
truth.
As we look to India today, the United States sees an
opportunity to sell our exports in one of the fastestgrowing
markets in the world. For America, this is a jobs
strategy. As we recover from this recession, we are
determined to rebuild our economy on a new, stronger
foundation for growth. And part of that foundation
involves doing what America has always been known for:
discovering and creating and building the products that
are sold all over the world. That's why I've set a goal of
doubling America's exports over the next five years -
because for every $1 billion in exports, thousands of jobs
are supported at home.
And already, our exports to India have quadrupled in
recent years - growing much faster than our exports to
many other countries. The goods we sell in this country
currently support tens of thousands of manufacturing
jobs across the United States - from California and
Washington to Pennsylvania and Florida. And that
doesn't even include all the American jobs supported by
our other exports to India - from agriculture to travel to
educational services.
As we speak, American-made machinery is helping India
improve its infrastructure, including the new airport here
in Mumbai where I landed this morning. This year, there
was a new sight on India's highways - American-made
17 The US President, Mr. Barack Obama addressing a meeting of the Indo-US Business delegation groups, in Mumbai on
November 06, 2010. The Union Minister for Commerce and Industry, Shri Anand Sharma is also seen.
INDO-US BUSINESS SPECIAL ISSUE
21